Verdrag inzake het beheer van het Multilateraal Investeringsfonds II

The Bank shall continue to be the administrator of the Fund. The Bank shall administer the Fund and carry out its operations in accordance with the MIF II Agreement and provide depositary and other services in connection therewith. The Bank shall maintain the Office of the Multilateral Investment Fund as the office within the Bank organization entrusted with administering and carrying out Fund operations and programs as contemplated in this MIF II Administration Agreement.

Section 1. Operations. a) In administering the Fund and carrying out its operations, the Bank shall undertake the following duties: (i) to identify, develop, prepare and propose, or arrange for the identification, development and preparation of, operations to be financed with the resources of the Fund;
(ii) to prepare, or make available, memoranda or information regarding proposed activities of the Donors Committee (as defined in Article II, Section 1(d) of the MIF II Agreement), to be transmitted or made available to the Board of Executive Directors of the Bank not less than every quarter for its information;
(iii) to present proposals for specific operations to the Donors Committee for final approval;
(iv) to identify and present areas of strategic focus, consistent with the MIF II Agreement, for consideration by the Donors Committee;
(v) to execute and oversee, or arrange for the execution and oversight, of all operations approved by the Donors Committee;
(vi) to implement a system for measuring results of operations based on the criteria contemplated in Article III, Section 3(h) of the MIF II Agreement;
(vii) to administer the accounts of the Fund, including investment of the funds as specified in Article IV, Section 1(c) hereof; and
(viii) to disseminate lessons learned from Fund operations and activities for the purposes of furthering the sharing of knowledge, improving project design, building the capacity of private-sector partners and engaging the private sector in the development process.
(i) to identify, develop, prepare and propose, or arrange for the identification, development and preparation of, operations to be financed with the resources of the Fund;
(ii) to prepare, or make available, memoranda or information regarding proposed activities of the Donors Committee (as defined in Article II, Section 1(d) of the MIF II Agreement), to be transmitted or made available to the Board of Executive Directors of the Bank not less than every quarter for its information;
(iii) to present proposals for specific operations to the Donors Committee for final approval;
(iv) to identify and present areas of strategic focus, consistent with the MIF II Agreement, for consideration by the Donors Committee;
(v) to execute and oversee, or arrange for the execution and oversight, of all operations approved by the Donors Committee;
(vi) to implement a system for measuring results of operations based on the criteria contemplated in Article III, Section 3(h) of the MIF II Agreement;
(vii) to administer the accounts of the Fund, including investment of the funds as specified in Article IV, Section 1(c) hereof; and
(viii) to disseminate lessons learned from Fund operations and activities for the purposes of furthering the sharing of knowledge, improving project design, building the capacity of private-sector partners and engaging the private sector in the development process.
b) Subject to approval of the Donors Committee, the Bank may request that the IIC administer or execute operations or individual programs when those operations and programs fall within the capabilities and expertise of the IIC.
c) The President of the Bank shall be the Chairman ex officioof the Donors Committee. The Secretary of the Bank shall be secretary of the Donors Committee and shall provide secretarial services, facilities and other support services to facilitate the work of the Donors Committee. In that capacity the Secretary shall also call meetings of the Donors Committee, and at a minimum of 14 days prior to a meeting shall distribute the principal documents for the meeting and an agenda to the representative of each Donor designated pursuant to Article IV, Section 1 of the MIF II Agreement.
Section 2. Limitations on Commitments. The Bank shall restrict commitments to the extent directed by a Donor pursuant to Article II, Section 1(d) of the MIF II Agreement.

Section 1. Depositary for Agreements and Documents. The Bank shall be depositary for this MIF II Administration Agreement, the MIF II Agreement, the Instruments of Acceptance and Contribution (as defined in Article II, Section 1(a) of the MIF II Agreement) and all other Fund-related documents.
Section 2. Establishment of Accounts. The Bank shall establish an account or accounts of the Bank as administrator of the Fund, to receive payments from Donors pursuant to Article II, Section 2 of the MIF II Agreement. The Bank shall administer such accounts in accordance with this MIF II Administration Agreement.

Section 1. Basic Authority. a) The Bank represents that it has authority under Article VII, Section 1(v) of the Agreement Establishing the Inter-American Development Bank (the ‘‘Charter’’) to carry out the provisions of this MIF II Administration Agreement and that the activities undertaken pursuant hereto will help fulfill the purposes of the Bank.
b) Except as provided otherwise in this MIF II Administration Agreement, the Bank shall have the authority to perform all acts and enter into all contracts necessary to carry out its functions hereunder.
c) The Bank shall invest monies of the Fund, not needed in its operations, in the same type of securities in which it invests its own funds under its investment authority.
Section 2. Standard of Care. The Bank shall exercise the same care in the discharge of its functions under this MIF II Administration Agreement as it exercises with respect to the administration and management of its own affairs.
Section 3. Expenses of the Bank. a) The Bank shall be fully reimbursed from the Fund for both direct and indirect costs for its activities related to the Fund and those of the IIC, including remuneration of the staff of the Bank for the time actually dedicated to the administration of the Fund, travel, per diem, communication expenses and other similar, directly-identifiable expenses, calculated and recorded separately as expenses of administering the Fund and carrying out its operations.
b) The procedure for determining and calculating the expenses to be reimbursed to the Bank, and the criteria governing reimbursement of the costs described in paragraph (a) agreed by the Bank and the Donors Committee pursuant to the MIF I Administration Agreement shall continue in force hereafter and may be reviewed from time to time at the proposal of the Bank or the Donors Committee, and the application of any changes resulting from such review shall require agreement of the Bank and the Donors Committee.
Section 4. Cooperation with National and International Organizations. In the administration of the Fund, the Bank may consult and cooperate with national and international organizations, both public and private, operating in the fields of social and economic development, when that would help achieve the purpose of the Fund or maximize efficiency in the use of the resources of the Fund.
Section 5. Project Evaluation. In addition to evaluations requested by the Donors Committee, the Bank shall evaluate the operations it has undertaken under this MIF II Administration Agreement and report those evaluations to the Donors Committee as provided in Article IV, Section 5 of the MIF II Agreement.

Section 1. Separation of Accounts. The Bank shall keep separate accounts and records of the resources and operations of the Fund, and the Small Enterprise Investment Fund referred to in Article III, Section 2(b) of the MIF II Agreement (the ‘‘SEIF’’), in such a way as to permit the identification of the assets, liabilities, income, costs and expenses pertaining to the Fund, and the SEIF, separate and independent of all other operations of the Bank. The accounting system used shall also permit the identification and recording of the origin of the various resources received by virtue of this MIF II Administration Agreement and the funds generated by them, as well as their application. The books of the Fund shall be kept in dollars of the United States of America, for which purpose translations between currencies shall be made at the rate of exchange in effect and used by the Bank at the time of each transaction.
Section 2. Reporting. a) As long as the present MIF II Administration Agreement shall remain in force, the Administration of the Bank shall present the following information each year in an annual information statement to the Donors Committee within 90 days after the close of its fiscal year: (i) a statement of assets and liabilities of the Fund and the SEIF, a statement of cumulative receipts and expenditures to the Fund and the SEIF and a statement of the origin and use of resources of the Fund and the SEIF, with such explanatory notes as may be pertinent;
(ii) information on the progress and results of the projects, programs and other operations of the Fund and the SEIF and on the status of applications presented to the Fund and the SEIF; and
(iii) information on the results of Fund operations based on the criteria contemplated in Article III, Section 3(h) of the MIF II Agreement.
(i) a statement of assets and liabilities of the Fund and the SEIF, a statement of cumulative receipts and expenditures to the Fund and the SEIF and a statement of the origin and use of resources of the Fund and the SEIF, with such explanatory notes as may be pertinent;
(ii) information on the progress and results of the projects, programs and other operations of the Fund and the SEIF and on the status of applications presented to the Fund and the SEIF; and
(iii) information on the results of Fund operations based on the criteria contemplated in Article III, Section 3(h) of the MIF II Agreement.
b) The statements referred to in paragraph (a) of this Section shall be prepared according to the accounting principles used by the Bank in its own operations, and shall be presented together with an opinion issued by the same independent firm of public accountants as designated by the Board of Governors of the Bank for the auditing of the financial statements of the Bank. The fees of the independent firm of accountants shall be charged to the resources of the Fund.
c) The Bank shall produce an annual report and quarterly reports containing information with respect to the receipts and disbursement of, and balances in, the Fund and the SEIF.
d) The Donors Committee may also require the Bank, or the firm of public accountants referred to in paragraph (b), to provide other reasonable information concerning the operations of the Fund and the audit statements presented.
e) The SEIF shall be accounted for separately from other resources of the Fund.

Section 1. Entry into Force. This MIF II Administration Agreement shall enter into force on the date the MIF II Agreement enters into force.
Section 2. Duration. a) This MIF II Administration Agreement shall remain in force as long as the MIF II Agreement remains in force. Upon termination of the MIF II Agreement, or upon termination of this MIF II Administration Agreement under Section 3 of this Article, this MIF II Administration Agreement nevertheless shall remain in force until the Bank completes duties relating to the winding up of Fund operations or the settlement of accounts pursuant to Article VI, Section 4(a) of the MIF II Agreement.
b) Prior to the end of the initial period contemplated in Article V, Section 2 of the MIF II Agreement, the Bank shall consult with the Donors Committee about the advisability of extending the operations of the Fund or the SEIF for the renewal period specified thereunder.
Section 3. Termination by the Bank. The Bank shall terminate this MIF II Administration Agreement in the event that it suspends its own operations under Article X of the Charter, or in the event that it terminates its operations under that Article of the Charter. The Bank shall terminate this MIF II Administration Agreement in the event the MIF II Agreement is amended so as to require the Bank, in fulfilling the obligations of this MIF II Administration Agreement, to act in contravention of the Charter.
Section 4. Winding up of Fund Operations. Upon termination of the MIF II Agreement or the SEIF the Bank shall cease all operations under this MIF II Administration Agreement or the SEIF, as the case may be, except those incident to the orderly realization, conservation and preservation of assets and the settlement of obligations. After all relevant liabilities of the Fund or the SEIF are discharged or provided for, the Bank shall make such allocations or distributions of remaining assets as directed by the Donors Committee under Article V, Section 4 of the MIF II Agreement.

Section 1. Contracts and Documents of the Bank on behalf of the Fund. In the contracts it signs in administering the resources of the Fund and carrying out its operations, and in all other Fund-related documents, the Bank shall indicate clearly that it is acting as the administrator of the Fund.
Section 2. Responsibilities of the Bank and the Donors. The earnings, profits or benefits arising from financing, investment and other operations carried out with the resources of the Fund shall in no case benefit the Bank. No financing, investment or operation of any kind carried out with the resources of the Fund shall involve the financial obligation or responsibility of the Bank to the Donors, and accordingly, any loss or deficit that may arise as a result of an operation shall not entitle the Donors to claim indemnification from the Bank, except in cases in which the Bank has departed from the written instructions of the Donors Committee or has failed to act with the same care as it takes in the management of its own resources.
Section 3. Adherence to this MIF II Administration Agreement. Any member of the Bank which is not listed on Schedule A of the MIF II Agreement may adhere to this MIF II Administration Agreement by signing it, after adhering to the MIF II Agreement pursuant to Article VI, Section 1 thereof. The Bank shall adhere to this MIF II Administration Agreement by signature by a duly authorized representative.
Section 4. Amendment. This MIF II Administration Agreement may be amended only by agreement between the Bank and the Donors Committee, which shall reach decision by a vote of at least two-thirds of the Donors representing three-quarters of the total voting power of the Donors. The approval of all Donors shall be required for an amendment to this Section or which involves any financial or other obligations of Donors.
Section 5. Settlement of Disputes. Any disputes arising under this MIF II Administration Agreement between the Bank and the Donors Committee, which are not resolved by consultation, shall be settled by arbitration pursuant to Annex A hereof. Any arbitral award shall be final and shall be implemented by a Donor, Donors or the Bank in accordance with its or their constitutional procedures or the Charter, respectively.
Section 6. Limitations on Liability. In the operations of the Fund, the financial liability of the Bank shall be limited to the resources and reserves (if any) of the Fund, and the liability of Donors as Donors shall be limited to the unpaid portion of their respective contributions that has become due and payable under the MIF II Agreement.
Section 7. Withdrawal of a Donor from the MIF II Agreement. On the date its notice of withdrawal has become effective under Article VI, Section 4(a) of the MIF II Agreement, a Donor submitting such a notice shall be deemed to have withdrawn from this MIF II Administration Agreement. Without prejudice to Article VI, Section 4(b) of the MIF II Agreement, the Bank, subject to the approval of the Donors Committee, shall enter into an arrangement with such a Donor for the settlement of their respective claims and obligations.